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Hospital Indemnity Insurance a Key Voluntary Benefit

InterWest Insurance Services

Fortunately, employers can help by offering their workers voluntary hospital indemnity insurance that can provide peace of mind in case they have a serious medical episode. Hospital indemnity insurance. One of your employees calls in and says she had to take her daughter to the hospital the previous night with severe stomach pain.

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Hospitals Are Hiding Prices from Patients, Advocacy Report Says

InterWest Insurance Services

Despite newly enacted federal transparency rules for hospitals and health plans, some large hospitals are still not posting the required price lists for their services, according to a recent report. The rule has taken effect in stages and hospitals were the first required to comply, but the report finds their efforts have fallen short.

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Managing Employee Healthcare Costs in 2021

Best Money Moves

More than 20 percent of employers plan to add voluntary benefits, such as critical illness insurance or a hospital indemnity plan. Voluntary benefits are low-to-no-cost for employers because employees pay for them and maintenance is often handled through payroll deduction. Managing Out-of-Pocket Costs in 2021.

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Waiving HDHP Deductibles Has Little Effect on Premiums, Study Says

InterWest Insurance Services

The reason: According to research from Johns Hopkins University, poorly managed chronic medical conditions cost employers an estimated $198 billion every year. These costs show up in several ways: Direct usage of medical services such as preventable ER visits and hospitalization. Cost of temporary workers. Overtime costs.

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Budgeting and Prepping for Open Enrollment

InterWest Insurance Services

Going out of network is discouraged with high out-of-pocket costs. Preferred provider organizations – PPOs contract with hospital and provider networks to help control costs. While they will cover services outside of the network, the cost is higher than going in-network.

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Budgeting and Prepping for Open Enrollment

InterWest Insurance Services

Going out of network is discouraged with high out-of-pocket costs. Preferred provider organizations – PPOs contract with hospital and provider networks to help control costs. While they will cover services outside of the network, the cost is higher than going in-network.

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5 ways you can help employees get the most from their benefits

Insperity

Be sure to provide each new hire with: A detailed, printed overview of available benefits and out-of-pocket costs, if any. You might also think about providing blood pressure screening (a local hospital may be able to provide this at little to no cost) or a raffle for fitness equipment or dinner at a nice restaurant.